Amendment status not verified — confirm the current text below against the official source.
The Liquidator appointed under section 103 shall have power subject to the rules and the general supervision, control and direction of the Register :~—- (2,) to institute and defend any suit and other legal procee— dings civil or criminal, on behalf of the society, in the name of his office ; (b) to carry on the business of the Society, So far as may be necesmry for the beneficial winding up of the same ; (c) to sell the immovable and movable property and actionn-r ble claims of the society by public auction 01‘ private contract With power to transfer the Whole or part thereof to any person or body corporate or sell the same in parcels ; (d) to raise, on the security of the assets 9f the society, any money required ; (e) to investigate all claims against the society and, subject to the provisions " of the Act, to decide questions of priority arising out of such claims, and. to pay any class or classes of creditors in full or rateably according to the amount of such debts, the surplus being applied in pay‘= ment of interest from the date of liquidation at a rate to be approved by the Registrar, but not exceeding the contract rates. ; (f) (g) (h) (i) (i) (k) (1) (m), (n) (0) to make any compromise or arrangement With creditors or perfilons claiming to be creditors, or having or alleging them- selves to haVe any claims, present or future, whereby the Soeiety may be rendered liable; to compromise all calls or liabilities to calls and debts and liabilities capable of resulting in debts and all claims present or future, certain or contingent, subsisting or supposed to subsist between the society and a. contributory or alleged contributory or other debtor or person apprehending liabl- lity to the society, and all questions in any way relatmg to or efl'eeting the assets or the Winding up of the soelety on Such terms as may be agreed, and take any seculr-lty for the discharge of any such call, liability, debt, or clam], and give a complete discharge in respect thereof ; to determine from time to time, after giving an opportunity to answer the claim, the contribution to be made or re- maining to be made by the members or past members or by the estates, nominees, heirs or legal representatives of deceased members, or by any officer, past officer or the estate or nominees, heirs, or legal representatives of deceased officer to the assets of the society, such contribu. tion being inclusiVe of debts due from such members or officers ; to issue requieitions, under section 98 ; to get disputes referred to the Registrar for decision by himself or his nominee or board of nominees ; to determine by what persons and in what proportion the cost of the liquidation shall be borne ; to fix the time or times Within Which the creditors shall prove their debts and claims or be included for the benefit of any distribution made before those debts or claims are proved ; to summon and enforce the attendance or witnesses and to compel the production of any books, accounts, docu- ments, securities, cash or other properties belonging to or on the custody of the society by the same means and in the same manner as is provided in the ceSe of Civil Court under the Code of Civil Procedure, 1908 ; . , to do all acts, and to execute in the name and on behalf of the society all deeds, receipts and other documents, as may be necessary to such winding up ; to take such action as may be necessary under section 19, With the prior approval of ' the Registrar, if there is reason to believe that the society can be reconstructed.